China Merchants Bank Co

China Literature, the e-book subsidiary of Chinese tech firm Tencent, is on track for a red-hot IPO after shadow orders immediately flooded in during pre-marketing. Some smaller companies have already delayed their IPOs to avoid being eclipsed by a deal that looks sure to dominate discussion in the coming weeks. Jonathan Breen reports.

China Merchants Bank is marketing its inaugural dollar-denominated Basel III additional tier one transaction, which analysts say is attractive to investors.

China Merchants Bank has named the leads on its proposed dollar additional tier one transaction, two months after receiving regulatory approval.

Global Logistic Properties returned to the Panda bond market with a five year note on October 13, raising Rmb1bn ($151.8m). But unlike its last issuance in 2016, GLP opted for the interbank instead of the exchange market, as the company searches for longer-term RMB funding for its China business.

Bank of Zhengzhou Co’s inaugural offshore additional tier one (AT1) bond drew attention for the wrong reasons this week, after last-minute changes in the syndicate group — including one bank being dropped from the global co-ordinator group. Addison Gong reports.

Bank of Zhengzhou Co priced its first offshore additional tier one (AT1) bond this week. But although the pricing of the deal appeared to make sense, the transaction drew attention for a number of last-minute changes in the syndicate group, including at the global co-ordinator level.

Haitong UniTrust is preparing for a late October or early November launch of its potential $500m Hong Kong listing, according to a banker working on the transaction.

Sichuan Energy Investment Development Co is looking to list on the Hong Kong Stock Exchange, having filed a draft prospectus with the bourse this week.

Hang Lung Properties is preparing its first Panda bond, aiming to raise Rmb2bn ($302.7m) from a three year note on the interbank market.

ZhongAn Online P&C Insurance Co has raised HK$11.9bn ($1.5bn) after pricing its hugely popular Hong Kong IPO at the top of guidance, according to a banker on the deal.

Investors familiar with Sunshine 100 China Holdings’ credentials shrugged off a recent ratings downgrade to gobble up its new $235m bond, which will allow the company redeem a note coming due imminently.

Bank of Gansu Co and A-Living Services Co are looking to float on the Hong Kong Stock Exchange, having filed draft listing documents with the bourse.